Wafflemeister named as one of Europe’s fastest-growing F&B companies

Wafflemeister has been ranked the third fastest-growing in the UK after Simmer Eats and KCS, the sixth fastest-growing company in the sector across Europe, and 148th across all sectors. 

This is the first time Wafflemeister has made it onto the list, alongside UK companies such as Knoops, Wild Cosmetics, Wingstop and Dash Water.

The ninth edition of the FT1000 ranking, compiled by the Financial Times and data research company Statista, is a list of 1,000 companies in Europe ranked by compound annual growth rate (CAGR) between 2020 and 2023. The minimum average growth rate to be included was 34.8%.

Wafflemeister recorded a CAGR of 127.4%, growing revenue from just over €1 million in 2020 to over €12 million in 2023. During the period, the business expanded its reach from one wholesaler to more than 90, and launched into the retail market in the UK, Spain, Sweden, Iceland and New Zealand. Since 2023, Wafflemeister has also set up its own foundation to make a difference to people's lives through food and hospitality charitable activities.

To be included in the list, a company must have met the following criteria: headquarters in one of 35 European countries, revenue of at least €100,000 generated in 2020, revenue of at least €1.5 million generated in 2023, that the revenue growth during this period was primarily organic, and the company must be independent.

Businesses named on the FT1000 exhibited not only fast growth, but organic and therefore sustainable growth over the past several years – including the years of the Covid-19 pandemic.

'Firmly cemented place'

Rikos Leong-Son, CEO, Wafflemeister, said: “We’re so proud of how the whole team successfully navigated the challenges posed by the Covid-19 pandemic – adjusting, readjusting, innovating and adapting, showing incredible resilience during this period. As a result, the business emerged stronger than ever. Since the reporting period, our business has continued to grow sustainably, and firmly cemented its place as one of Europe’s favourite waffle brands.”

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